As learned from the State Commission of Development and Reform, the check-up campaign of fixed asset investment projects starting from the end of April has made progress.

In this initiative as an important measure of the macro-control policy, 70600 items of fixed asset investment valued 17.2744 trillion yuan were evaluated.

Construction of 427 of them was ordered to stop. 43 billion yuan had been wasted on them. 2882 items with a gross investment of 673.9 billion yuan were suspended for rectifying within a certain period. 841 projects totaling 127.2 billion yuan were cancelled. As a result, the number of these projects found irrational came to 4150, or 5.9 percent of the total. They were worth 844.1 billion yuan, or 4.9 percent of the total investment under the scrutiny.

In line with the instruction of the State Council, local governments and departments concerned launched a sweeping investigation into the projects under construction or planned items.

Special attention was given to projects of iron and steel, aluminum, cement, office buildings and training centers for administrative institutions, urban express rail ways, golf courts, exhibition centers, logistics parks, big shopping centers and all items which began to be built in 2004.

By People's Daily Online